CSM may be able to move out of the danger zone if pressures alleviate on the costs input side towards mid-2012 and if its new rationalization plan generates some significant cost savings, notes an analyst.
The German dairy sector needs to pursue further consolidation to make inroads into lucrative international markets for dairy products, according to the nation’s largest processor DMK.
German ingredients group Südzucker reports a sharp rise in profits for the first half of its financial year, citing gains from its sugar and fruit segments as being particular growth drivers.
Analyst RBS believes Brookes Avana is Premier Foods’ most likely candidate for disposal, following the UK food producer’s announcement at the end of last week that it is now actively looking to sell off parts of its business to allow it to deleverage.
Synergy has expanded its US flavors empire with the acquisition of beverage flavors expert Sethness-Greenleaf less than three weeks after snapping up natural extracts specialist Sensus, almost doubling the size of its US business overnight.
Dutch bakery ingredients supplier CSM has issued a profit warning, claiming it will not meet its earnings expectations due to lower spending from recession hit consumer.
Flavours and fragance house Givaudan, while posting third quarter results, said its decision to increase its prices will soften the impact of higher raw material input costs for products such as citrus and orange oil in 2011 and fully cover them in 2012.
Adams Foods is launching a new cheese brand called Mu in partnership with retail giant Tesco less than a month after a devastating blaze wrecked its cheese warehouse at Wincanton Business Park, Somerset.
Dairy group Friesland Campina has welcomed the call from a Dutch trade group to end the European import levy on sustainably produced palm oil and claims it could encourage greater uptake among brand owners.
Italian dairy company Granarolo says it is pursuing a €1.6bn turnover as part of a four-year growth plan that will see the firm pursue more acquisitions both at home and internationally.
Nestlé’s scheme to expand operations at its Product Technology Centre in York cleared the final hurdle last week at a planning meeting of City of York Council.
Kerry’s acquisition of Cargill’s flavour systems for €168m ($230m) is by no means transformational but will boost the Irish ingredient firm’s beverages and dairy flavours portfolio, claims an analyst.
Hungarian snacks firm Chio Magyarország – owned by German giant Intersnack – has slammed the country’s new ‘chips tax’ for ruining its chance of winning funding for new popcorn and snacks lines.
Improved performance within Fonterra’s ingredients businesses worldwide has seen the firm announce a record turnover of NZ $19.9bn (€11.6bn) in 2010/11.
Granarolo has ramped-up its presence within the EU dairy sector by acquiring Italian cheese producer Lat Bri, in a move that will take its turnover above €1bn.
Nutrastar is to develop its organic and speciality foods business in an 18 month expansion plan with annual production capacity set to increase to more than 6.5m kg of organic produce.
German manufacture Dr Suwelack is expanding its sourdough production by 25 per cent thanks to the start-up of new drying facilities at the company’s headquarters in Billerbeck. The first products look set to emerge from the new line within weeks.
Laila’s Fine Foods is reporting substantial growth in frozen and chilled ready meals as Mintel figures suggest the UK market is experiencing significant growth.
Despite its status as the world’s largest hot drinks manufacturer, Nestlé faces a tough battle for global dominance with Kraft in coffee due to the rising popularity of fresh coffee, according to Euromonitor International.
Arla Foods announced today that it was a "step closer" to acquiring German dairy firm Allgäuland-Käserien, after the last of the latter's constituent co-operatives voted in favour of joining the dairy giant.
Kerry Group’s acquisition of sweet ingredients provider SuCrest will extend its technology and expertise in that arena, said the global flavour and ingredients powerhouse.
Analysts estimate that the ingredients division of Associated British Foods (ABF) is likely to have a tough second half in line with the “lacklustre” operating performance in the first six months.
Arla will reoganise its senior management team from October, in a move that it says will shorten decision-making timeframes and devliver the DKK 75bn turnover growth demanded by its strategy to 2015.
Kraft has confirmed that it has chosen Cadbury’s site in Bournville as the site of a new chocolate centre to “drive new product development and new technologies” for chocolate brands.
Exploiting expected growth opportunities in the Middle East and Africa, AB Enzymes reports it has initiated a tie-up with one of the main distributors in the region – Orkila - to aid its penetration into the bakery, beverage and food specialities markets.
R&R Ice Cream has acquired Europe’s largest private-label ice cream manufacturer Pilpa in a deal worth around €17.65m, plus stock on completion estimated at €9m.
French spirits giant Pernod Ricard has successfully grown European sales in 2010/11 after a worrying 5% slump last year, due to a “recovery in consumer spending”.
Arla Foods remains confident that its ‘take it or leave it’ takeover bid for Southern German dairy co-op Allgäuland-Käsereien will succeed, despite its initial rejection.
Friesland Campina reports earnings for its ingredients business group rose by just over 16 per cent to €943m (as against first half of 2010: €812m), citing factors such as price rises and higher sales volume in its financial results for the first half...
Israel-based flavours, botanicals and speciality ingredients player Frutarom has acquired English flavour-company Aromco Ltd for US$ 25million (€17.4 million).
Israel-based flavours, botanicals and speciality ingredients player Frutarom has reported lower profits in Q2, with raw material hikes cited as the principal cause.
Irish dairy and ingredients group Kerry has turned in a”solid” first half of 2011 that saw it increase volumes, weather raw material price hikes, and see success in a “go-to-market” functional ingredient strategy as profits jumped 6.1% on 2010 figures.
Finnish supplier Raisio has turned in a bumper half-year with earnings before interest, tax and depreciation (EBIT) surging from €10.3m to €16.2m – a 73% rise.
Archer Daniels Midland Company (ADM) has announced that it will expand its cocoa processing capabilities at its facility in Singapore to enable it to keep pace with growing demand for cocoa and chocolate products from Asian markets.
Kerry Ingredients & Flavours is taking the lid off its R&D work to reveal some of the meat solutions it has in the pipeline for clean label, salt and fat reduction, coatings developments and taste enhancement.
The Ukraine has followed US, UK and German authorities by OKing Diamond Foods €1.6bn takeover of the Pringles business from Procter & Gamble that will make it the second biggest snack maker globally after PepsiCo.
Kraft, in its second quarter results, reports continuing challenges ahead for its gum and candy division in developed markets, and claims the Cadbury takeover is a fundamental earnings driver, with its global chocolate earnings up 9 per cent.
